Currently, EIGEN is showing a very bullish trend with increasing trading volume. Based on the weekly chart analysis, there is a potential price to reach $6.8 with a psychological target of $7. This figure is an important reference for smart money to sell, taking advantage of the psychological target of the majority of investors.

EIGEN has a price correlation of 3:1 to Ethereum (ETH). This means that if the price of ETH increases by 100%, the price of EIGEN has the potential to increase by 300%. This correlation makes EIGEN an attractive asset for portfolio diversification, especially if you are optimistic about the movement of ETH.

For investors who focus on long-term investment, EIGEN is worth considering as an alternative to Ethereum. Based on in-depth analysis, EIGEN has significant growth potential in the next few months.

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Important Note:
Make sure to always (DYOR - Do Your Own Research) before making an investment decision.

Given that Volatility in the crypto market remains a factor to watch out for.

Currently, the eigen shows significant potential for movement based on technical and fundamental analysis:

Technical:
After 54 days of consolidation, the eigen price has successfully formed a bullish flag pattern, which is an indication of a potential reversal. The next target for the movement is towards the previous high of $4.5. However, the biggest challenge is in the strong resistance area of ​​$3,247. A short-term correction is possible in this area. If the price manages to break through this resistance in the next few days, the opportunity to reach the highest level will be even more open.

Fundamental:
According to SpotOnChain data, the inflow of funds into the eigen has continued to increase, with significant accumulation by whales and smart money over the past two weeks. This shows the confidence of large investors in the prospects of this asset. In addition, the trading volume of the eigen has increased since it was first published, indicating strong market interest.

#CryptoExplorerFiesta

Giant whale 0x267 also spent 1,236.21 WETH ($3.79 million) to buy 1.694 million EIGEN in the last 12 hours:

address: 0x267ed5f71ee47d3e45bb1569aa37889a2d10f91e

Most notably:

The whale has spent 3,391 WETH ($10.44 million) to buy 4.483 million EIGEN at an average price of $2,329 over the last 8 days!

Prior to the recent purchase, the whale had also received 327K EIGEN from EigenLayer and acquired 230K EIGEN from liquidity pools on Uniswap.

Currently, the whale holds 5.04 million EIGEN ($11.14 million), making EIGEN the second-largest holding, after ETH, in the $200 million portfolio.

These tokens are held in whale wallets and staked on multiple staking platforms, including 1.918 million EIGEN ($4.24 million) held in wallets, 1.595 million EIGEN ($3.52 million) staked with Ether.fi, 1 million EIGEN ($2.21 million) staked with EigenLayer, and 528,013 EIGEN ($1.17 million) staked with Renzo.

data by spotonchain

#eigenlayer

Whale 0x267 then exchanged 125.7 WETH ($383K) for 163,423 EIGEN at an average price of $2,343 in the last 3 days:

address:

0x267ed5f71ee47d3e45bb1569aa37889a2d10f91e

In total, the whale has purchased a total of 1.226 million EIGEN using 956.01 WETH ($2.79 million) at an average price of $2,424 in the last 2 days.

Including the 322,176 EIGEN received from EigenLayer and the 229,572 EIGEN obtained from liquidity pools on Uniswap, the whale now holds 1.782 million EIGEN ($4.16 million). EIGEN is the second largest holding, after ETH, in the whale's $200 million portfolio.\

The giant whale also bought $383K worth of EIGEN shares

#eigenlayer

EigenLayer is an innovative decentralized restaking protocol built on Ethereum, allowing users to stake ETH or Liquid Staking Tokens (LST) to earn additional rewards while enhancing the cryptoeconomic security of Actively Validated Services (AVS).

Unlike traditional rehypothecation, EigenLayer maintains the ethos of self-custody blockchain, allowing stakers to maintain control over their assets while providing security to a variety of applications.

The platform facilitates a marketplace where users can choose operators or run their own validators, creating a competitive environment for pooled security. By addressing the challenges of security reinforcement and capital fragmentation, EigenLayer aims to unlock greater potential for decentralized applications, ultimately contributing to a stronger Ethereum ecosystem.

The price of eigen is currently forming a double bottom, indicating an imminent reversal, coupled with increasing volume, it won’t be long before this token soars.

However, it’s worth noting that if the price breaks support, there’s a chance to go to $1.6.

but if it turns around it will break through to $5

So Do Your Own Research!

$EIGEN
#eigenlayer

#MyFirstSquarePost

https://t.me/blum/app?startapp=ref_KwjrjlMOC5

Blum crypto recently conducted an airdrop for early adopters and users of its platform. The tokens distributed through the airdrop will be claimable once the listing goes live.

However, the exact date for the listing in September 2024 is still unclear, keeping the community in suspense. This has generated significant excitement, with pre-market levels already showing demand, as the BLUM token is trading at $0.02 (Rp303.51).

The upcoming listing will not only provide liquidity but also give token holders the opportunity to trade the airdropped tokens on various exchanges.

The platform has announced that the token will be available on CEX and DEX platforms, which is expected to increase visibility and liquidity.

Based on current market conditions and the positive reception from the airdrop, it is reasonable to predict that the BLUM token could reach $0.05 (Rp758.78) to $0.08 (Rp1,214) within the first few weeks of its listing, especially with continued demand and market momentum.

Looking ahead, the long-term outlook for the BLUM token looks strong. By the end of 2024, the token could potentially reach a price range of $0.10 (Rp1,517) to $0.15 (Rp2,276), depending on market conditions, project updates, and wider platform adoption.